Arbitration is a process of essentially hiring a private judge. Arbitration can be binding or non-binding. Binding arbitration means the parties agree to live by the decision of the arbitrator.
Non-binding means the parties are not required to follow the decision of the arbitrator, and may proceed to court if they do not like the decision.
The advantage to arbitration is the matter may be resolved in a slightly less formal setting and much more quickly and date certain rather than waiting on the public court system.
Arbitration, unlike mediation is where a neutral third party makes a decision in your matter.
Mr. Chandler is a qualified arbitrator.